and lowered entry thresholds don’t necessarily mean foreign investment will be subject to no, or even relaxed rules and regulation

s. Like in other developed markets, a proper review and supervision will still be in place to monitor the development of the relevant industries.

For instance, in the US, while there is no such limit on foreign equity ownership, the government can

still conduct a review of major foreign transactions and investments in such industries as power generation, telecommunications, shi

pping, banking and media through the Committee on Foreign Investment in the United States (CFIUS), in the name of national security.

Of course, China will be unlikely to set up such a review body like the CFIUS, but

in the context of its accelerated opening-up, it is making its own preparations.

In January, a draft foreign investment law was submitted to the Standing Committee of the N

ational People’s Congress, China’s legislature, for its second review. The fast-tracked review n

ot only reflects China’s eagerness to make legislative preparation for the increased opening-up, but also indicates its

strong determination to open further up to the world and to level the ‘playing fields’ for foreign and domestic companies.

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Tian Hongming, 67, has been dubbed the “last blacksmith by the fire” by the people of Changchun, capital of northeast China’s Jilin province.

Having picked up the skill of forging iron at the age of seven from his grandfather, Tian has made a living from the skill for more than half a century.

In the 1990s his business reached its peak, selling more than 80,000 iron products a year, Tian said.

With increaed industsrialization and the cheaper and more intricate iron products it brought however, Tian and his workshop went into decline.

Although fewer customers now choose handmade iron products, Tian sticks to the traditional craft and takes every order seriously.

In 2015 his skill was listed among the city’s intangible cultural heritages.

“Sometimes, the flow-line productions can’t meet the special needs of custo

mers, so the craft will never be replaced,” he said. “And I will continue my business as long as the market and customers need me.”

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The Sao Paulo State Symphony Orchestra of Brazil, the first South American symphony to t

our China, will hold a concert at the Shanghai Grand Theatre on the night of Valentine’s Day.

The event also marked the first time the symphony’s female conductor Marin Alsop is involved in a performance in China.

Alsop, who is one of the most prominent students of the late US musician Leonard Bernstein, introduced the symphony’s m

usic style as “accessible with folk elements” and highly rhythmic, which is “a hallmark of the Brazilian music”.
The

concert program, she added, is perfect for Valentine’s Day as it “begins with lots of fire and ends with lots of romance”.

The concert opened with Bernstein’s Candide Overture, followed by works from Brazilian composer Heit

or Villa-Lobos and Argentine Alberto Ginastera. The second part featured Sheherazade by Russian artist Nikolai Rimsky-Korsakov.

Following its China premiere in Shanghai, Alsop and the Sao Pa

ulo symphony will go on to play in Jinan of Shandong province, Beijing and Hong Ko

ng, where the company will feature as the opening performance for the Hong Kong Arts Festival on Feb 21.

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 exert to secure gifts or arrange a romantic evening, while men often seek th

e easiest means and least efforts needed to accomplish the much-disliked ob

ligation of purchasing Valentine’s Day presents for their beloved or selecting a romantic spot to awe them on Valentine’s Day.

On one hand, men might put much emphasis on the monetary value of the gifts that they buy or the cost of spending a ro

mantic Valentine’s Day. They believe that expensive gifts and extravagant settings for the event will endear them to th

e hearts of their loved ones. On the other hand, women might evaluate the romantic gestures on sentimental values.

Most men have to the tendency to be lazy when it comes to buying Valentine’s Day g

ifts. Some are inclined to purchase things that might be practical yet not so ro

mantic. Receiving such gifts might dampen any romantic aspirations a woman may have for Valentine’s Day.

From discussions with students through my teaching assignments, I discovered that most of these young men are too tim

id to show their romantic feelings. However, they are slowly becoming bolder in dealing with their affections.

ashfk.com

Another three prototypes for China’s first homegrown large passenger jet, the C919, will conduct their maiden flights this year, follow

ing the success of a third one on Dec 28, 2018, according to the Commercial Aircraft Corporation of China Ltd (COMAC), the maker of the jet.

The 104 prototype test aircraft of the China-made C919 has entered its final assembly stage, the 10

5 is undergoing the assembly of major components, and the main components of the 106 are in pro

duction. The maiden test flights for all three new prototype jets are expected to take place before the end of 2019.

The addition of these three would bring the total number of C919 prototype test aircraft to six.

To date, domestic and overseas buyers have placed orders for 815 of the China-m

ade C919 aircraft.Chinese communities around the world welcomed the Year of th

e Pig on Feb 5, ushering in Lunar New Year with prayers, family feasts and shopping sprees.

Celebrations took place across the globe, ranging from Southeast Asia’s centuries-old Chi

nese communities to the more recently established Chinatowns of Sydney, London, Vancouver, Los Angeles and beyond.

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Despite China’s ongoing trade war with the United States, Guangdong province, an economic powerhouse, has found new ways to attain sustainable economic development.

In addition to the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, which helped the province maintain its strong growth momentum, inn

ovation in science and technology was the key to sustainable economic growth last year, Wang Ruijun, director-general of

the provincial Department of Science and Technology, told local media recently.

Wang said the provincial government spared no effort to promote innovation after President X

i Jinping urged Guangdong to further develop its innovative industries during last year’s tw

o sessions – the annual meetings of China’s top legislature and advisory body.

Wang said Guangdong has invested more than 4 billion yuan ($593 million) to help build seven provi

ncial-level laboratories and 72 other major scientific research projects to support economic development.

It has also actively integrated its scientific and technological development into the country’s de

velopment plan for major scientific and technological projects, while building the Guangdong-H

ong Kong-Macao Greater Bay Area Innovation Center of Science and Technology, he said.

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 of major Chinese cities such as Beijing and Shanghai. Smaller cities and even townships are capturing the fastest growth, findings from both payment providers showed.

According to Alipay, the quickest expansion rate in per capita overseas spending was logged in

Zhoushan, a port city in East China’s Zhejiang province, which surged 55 percent year-on-year. It wa

s followed by 50 percent in Weifang, Shandong province, and 44 percent in Lianyungang, Jiangsu province.

In contrast, the growth rate in relatively affluent Beijing, Shanghai and Guangzhou r

eached 27 percent, 30 percent and 24 percent respectively, although they accounted for the greatest outbound spending by volume.

These trends “really highlight how mobile payment is taking root in China’s outbound t

ourism market”, said Chen Jiayi, Alipay’s head of business operation on cross-border business.

WeChat also saw a notable surge in the use of mobile payment in lower-tier cities, with over 40 percent transactions ma

de by residents who work in bigger cities but returned to hometowns for the weeklong annual gathering.

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ay was mostly adopted for the first time since WeChat started tracking the data in 2015.

A Nielsen survey released in January suggested that 93 percent of Chinese travelers are likely to increase their spen

ding overseas if mobile payment is more widely accepted, which would consequently boost local businesses.

Alipay and WeChat Pay accounted for almost 94 percent of the count

ry’s third-party payment market, according to consultancy iResearch. The duo are ga

ining market share by making ambitious forays overseas where mobile payment is yet to mature.

Among the latest developments, Tencent is looking to work with more smart solutions and s

ervice providers this year to make the app function run as smoothly in foreign markets as it does in China, by in

corporating a variety of tools developed by third-party providers, said Fan Wei, overseas business director of WeChat Pay.

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campus were offered assistance in relocation and compensation by market value or higher. Yet some were still unhappy as their lives had been disrupted.

Moreover, the public has become aware of the spiraling costs for the new job opportunities. It is estimated that each new job created could cost the gove

rnment as much as $1 million, eight times the average amount of subsidies local governments offer to similar projects.

Officials who had worked on the deal said the ince

ntive package should be viewed as an investment made by the state rather than free money for the company.

However, statistics showed that citizens might see a return on their Foxconn investment in 2042 at the earliest, accor

ding to the Legislative Fiscal Bureau, a nonpartisan agency that provides economic analysis to the Wisconsin state legislature.

Many local residents felt it was a waste of money and called on governments to reth

ink their package and put the money into other social benefit projects such as education.

“It’s a lousy deal, and we’re going to have to hold Foxconn’s feet to the fire going forward,” Wisconsin’s Governor-elect Tony Evers said.

hjpvc.cn

NEW YORK – Residents’ opposition, labor shortage, and technology transfer difficulties are the three main reasons why manuf

acturing companies like Foxconn could not move back to the United States easily, industry insiders and analysts have said.

Being built on a vast 2,800 acres of land in the US State of Wisconsin, the Foxconn plant project is dubbed by US President Donald Trum

p as the “eighth wonder of the world” for the scale of investment, the number of new jobs it promises to brin

g in, and the hundreds of upstream and downstream manufacturing companies that potentially would follow suit.

The company, which makes products for Apple, Sony, Microsoft and Nintendo, among others, in 2017 signed a contract w

ith Wisconsin Economic Development Corporation for the display screen plant worth $10 billion.

According to the contract, Foxconn will build a 21.5-million-square-foot (20-square-k

ilometer) manufacturing campus and hire about 13,000 local workers, and Wisconsin promised to prov

ide an incentive package worth about $4 billion, the largest subsidy offered to a foreign company in US history.

The project moved fast, but problems soon followed. In what local officials describ

ed as the “Foxconn pace,” the plant broke ground in June and soon caused considerable controversy.

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